Walmart is now accepting games trade-ins online with in-store trade-ins coming soon. (Walmart)

The used video game market that is currently dominated by GameStop just got more competitive Tuesday as Walmart announced its entry into the field.

The retailer is accepting trade-ins via an online application starting today, March 18 that is similar to Amazon's trade-in program. It asks a handful of questions before providing a trade-in value to accept or decline. If customers accept, they will print out a prepaid shipping label to ship the game to Walmart. After the game is received and evaluated by the store, the customer will receive a physical gift card by mail.

Meanwhile, the in-store trade game trade-in program will launch on Wednesday, March 26. Trade-ins can be executed at participating store's customer service desk where the game's condition will be evaluated on the spot. Customers will then receive a physical gift card for the game's value.

The gift cards can be spent online or in-store.

This sets up an interesting competition between GameStop and Walmart for game trade-ins as both stores are routinely located in the same shopping plaza. The big box retailer may have the upper hand with its online trade-in option and the ability to aggressively undercut GameStop on prices.

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Scott has been covering the game industry (and game deals) since late 2009. He takes joy in covering what fits his varied tastes in gaming cultivated from a very young age. You can reach him at jsgrill@gmail.com or follow him on Facebook. He can also be found at the Furious Fourcast where is a co-host and producer.